ComfortDelgro *Official* (SGX:C52)

homedriver

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https://www.straitstimes.com/singapore/transport/comfortdelgro-uber-deal-is-off

ComfortDelGro-Uber deal is off

SINGAPORE - ComfortDelGro Corp and ride-hailing firm Uber have agreed to dissolve the strategic agreement that they entered into last December.

As a result, ComfortDelGro will no longer be acquiring the 51 per cent stake in Uber's wholly owned car rental subsidiary in Singapore, Lion City Holdings.

Consequently, the application to the Competition and Consumer Commission of Singapore will be withdrawn.

ComfortDelGro chief executive Yang Ban Seng said: "The operating environment has changed and the basis on which we were supposed to form the partnership is no longer relevant, given that Uber has exited the region.

"Nevertheless, the group still has every intention to go into the private-hire vehicle space as we see the increasing convergence of private-hire vehicles and taxis in the personalised mobility market."

This seems good news for me.
 

Mancunian2

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Shion

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ComfortDelGro seeks new M&A options after Uber fallout

ComfortDelGro seeks new M&A options after Uber fallout

https://sbr.com.sg/transport-logistics/news/comfortdelgro-seeks-new-ma-options-after-uber-fallout

Previous reports said it is in talks with Indonesia's Go-Jek.

Last week, ComfortDelGro Corporation (CDG) said it will no longer pursue the $642m deal for the 51%-stake in Uber’s wholly-owned car rental subsidiary in Singapore, Lion City Holdings, which operates Lion City Rental (LCR).

What then for CDG? Analysts have observed that the taxi giant continues to look for mergers and acquisitions (M&A).

Cezzane See from CGS-CIMB noted that the company still intends to enter the private hire vehicle space as it foresees the increasing convergence of private hire vehicles and taxis in the personalised mobility market. “We believe CDG made the move largely to tap on Uber’s private-hire client network and ride-hailing technology, but without that, the tie-up was rendered less attractive,” she said.

See raised the possibility of CDG entering a deal with Indonesia’s ride-hailing giant Go-Jek after the latter announced plans to enter Singapore and invest US$500m in it alongside three other countries.

“Recent local news reports quoted unnamed sources as saying that CDG and Go-Jek are in talks for a tie-up. In our view, Go-Jek’s passive management style could appear to be attractive to CD. However, the reports remain unsubstantiated, hence it is currently too premature to conclude on any possible partnership,” she said.

Maybank Kim Eng analyst John Cheong said in a report dated 14 May that CDG is “actively evaluating” many overseas M&A opportunities to grow its complementary businesses. “However, it remains disciplined on price by assessing the geographical risks and potential synergies,” he added.

Seven M&A deals announced since February 2018 are expected to be completed by the second quarter.
 

havetheveryfun

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Very good selling price.

It was a good run, however I’m looking at the last one year high before letting go some, hopefully can hit my target price of 2.7ish

just sell like 20-50% then and keep the remaining.. that way if drop back wont feel so painful. or if rise up further wont feel painful either compared to if u had sold all
 
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